Gold price falls below $4,128, turning mildly bearish
Gold futures have declined after failing to hold the new-week advance toward $4,146. The price has returned to the low $4,110s, below intraday VWAP and close to the important $4,102-$4,111 support zone.
Sellers have the short-term advantage below $4,128, but bulls remain in the game while $4,100 holds. The failed gap higher was followed by a decline toward $4,103, after which buyers attempted to repair the damage.
The shorter-term volume structure supports this cautious bearish view. Accepted trading activity initially moved higher, but later shifted back toward the low $4,110s after recovery attempts stalled around $4,124-$4,127.